NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
UTMD
Utah Medical Products, Inc.
UTMD has a slight edge over NVO overall on the model score.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
UTMD Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Healthy | |
| Healthy | |
| Strong |
UTMD's profitability, cash flow and balance sheet are currently healthy, but its revenue is under pressure.
NVO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 10x | $40.65 | — |
| Cheap | 14x | $53.56 | +32% |
| Fair | 27x | $103 | +154% |
| Expensive | 39x | $152 | +273% |
Historical ranges are pointers, not guarantees.
NVO has the edge over UTMD in the historical PE scenario, which offers more potential upside but is not a forecast.
UTMD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $50.18 | -32% |
| Fair | 20x | $66.55 | -9.6% |
| Current | 22x | $73.63 | — |
| Expensive | 26x | $84.11 | +14% |
Historical ranges are pointers, not guarantees.
UTMD's PE is in its expensive range at 22x.
NVO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect NVO's revenue to grow, but its profitability to weaken. However, they disagree widely on these estimates.
UTMD Forward outlook
There aren't enough analyst estimates for UTMD to show an outlook.
NVO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $3.89 | +4.9% |
| Q1 2026 | $4.07 | +17% |
| Q4 2025 | $3.42 | +1.8% |
| Q3 2025 | $3.47 | +10% |
| Q2 2025 | $3.71 | +24% |
| Q1 2025 | $3.49 | +18% |
| Q4 2024 | $3.36 | +21% |
| Q3 2024 | $3.15 | +27% |
NVO has the edge over UTMD on earnings, with more consistent year-over-year improvement.
UTMD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $3.28 | -12% |
| Q1 2026 | $3.38 | -11% |
| Q4 2025 | $3.48 | -12% |
| Q3 2025 | $3.54 | -17% |
| Q2 2025 | $3.74 | -14% |
| Q1 2025 | $3.78 | -16% |
| Q4 2024 | $3.95 | -14% |
| Q3 2024 | $4.27 | -8% |
UTMD's earnings per share have fallen from their peak: $3.28 over the past year, against $4.74 in mid-2023.
NVO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $11.7B | +2.1% |
| Q1 2026 | $14.4B | +24% |
| Q4 2025 | $11.8B | -7.6% |
| Q3 2025 | $11.1B | +5.1% |
| Q2 2025 | $11.4B | +13% |
| Q1 2025 | $11.6B | +19% |
| Q4 2024 | $12.7B | +30% |
| Q3 2024 | $10.6B | +21% |
NVO has the edge over UTMD on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 34% | -9 points |
| Q1 2026 | 62% | +12 points |
| Q4 2025 | 40% | -2.8 points |
| Q3 2025 | 32% | -16 points |
| Q2 2025 | 44% | +5.4 points |
| Q1 2025 | 50% | +1 points |
| Q4 2024 | 43% | +2.2 points |
| Q3 2024 | 47% | +1.6 points |
NVO has the edge over UTMD on profitability, with a higher operating margin.
UTMD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $8.5M | -14% |
| Q1 2026 | $8.7M | -10% |
| Q4 2025 | $9M | -1.2% |
| Q3 2025 | $9.8M | -1.9% |
| Q2 2025 | $10M | -4.3% |
| Q1 2025 | $9.7M | -14% |
| Q4 2024 | $9.2M | -26% |
| Q3 2024 | $10M | -20% |
UTMD's revenue has slid since its 2022 peak: $9M last quarter, down 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 31% | -1.1 points |
| Q1 2026 | 29% | -3.1 points |
| Q4 2025 | 27% | -5 points |
| Q3 2025 | 27% | -6.8 points |
| Q2 2025 | 32% | -1 points |
| Q1 2025 | 32% | -1.8 points |
| Q4 2024 | 32% | 0 points |
| Q3 2024 | 33% | +1.7 points |
UTMD's operating margin was 31% last quarter, down 1.1 points from the same quarter a year ago.
NVO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $6.3B | +73% |
| Q1 2026 | $1.8B | +20% |
| Q4 2025 | -$5.4B | -$4.7B |
| Q3 2025 | $4.6B | -2.1% |
| Q2 2025 | $3.6B | -34% |
| Q1 2025 | $1.5B | +89% |
| Q4 2024 | -$632.6M | +$390.5M |
| Q3 2024 | $4.7B | +3.3% |
NVO has the edge over UTMD on cash flow, with more consistent year-over-year improvement.
UTMD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $1.2M | -56% |
| Q1 2026 | $3M | -30% |
| Q4 2025 | $3.4M | +15% |
| Q3 2025 | $3.9M | +2.2% |
| Q2 2025 | $2.8M | +6.4% |
| Q1 2025 | $4.3M | -19% |
| Q4 2024 | $2.9M | -44% |
| Q3 2024 | $3.8M | -24% |
UTMD's free cash flow has been positive every quarter for seven years: $11M over the past year, down 17% from the year before.
NVO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -12.9M shares |
| 1 year | -0.2% | -11M shares |
| 3 years | -1.5% | -66.8M shares |
| 5 years | -3.8% | -177M shares |
| Available history | -6.5% | -311M shares |
NVO has 4.4B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $520M |
| Q1 2026 | $356.7M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $206.3M |
| Q4 2024 | $1.1B |
| Q3 2024 | $357.4M |
NVO spent $877M buying back its own shares over the past year, down 48% from the year before.
UTMD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -1K shares |
| 1 year | -1.9% | -62K shares |
| 3 years | -13% | -455K shares |
| 5 years | -13% | -471K shares |
| Available history | -15% | -553K shares |
UTMD has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $78,000 |
| Q1 2026 | $128,000 |
| Q4 2025 | $994,000 |
| Q3 2025 | $653,000 |
| Q2 2025 | $3.5M |
| Q1 2025 | $3.2M |
| Q4 2024 | $6.7M |
| Q3 2024 | $3.9M |
UTMD spent $2M buying back its own shares over the past year, down 89% from the year before.
NVO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.5x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
| Q3 2024 | -0.0x | Very low |
NVO's net debt is less than a year of its operating earnings (EBITDA).
UTMD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -6.9x | Net Cash |
| Q1 2026 | -6.4x | Net Cash |
| Q4 2025 | -6.0x | Net Cash |
| Q3 2025 | -5.7x | Net Cash |
| Q2 2025 | -5.3x | Net Cash |
| Q1 2025 | -5.3x | Net Cash |
| Q4 2024 | -5.1x | Net Cash |
| Q3 2024 | -5.0x | Net Cash |
UTMD has the edge over NVO on leverage, with a lower net debt burden relative to earnings.
NVO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 27.0 | Neutral |
NVO's weekly RSI is 43 (neutral) and its Stochastic is 27 (neutral).
UTMD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.3 | Neutral |
| Stochastic | 45.8 | Neutral |
UTMD's weekly RSI is 56 (neutral) and its Stochastic is 46 (neutral).
NVO PE vs Healthcare Sector
| Metric | NVO | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 26x | 60% below |
| PE % | 6 | 29 | 23 pts below |
NVO has the edge over UTMD on valuation relative to its sector.
UTMD PE vs Healthcare Sector
| Metric | UTMD | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 26x | 13% below |
| PE % | 68 | 29 | 39 pts above |
UTMD is trading at 22x earnings, a 13% discount to the Healthcare sector's median of 26x.
NVO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $39.2 | 3.7% above |
| 20 week MA | $43.9 | 7.4% below |
| 50 week MA | $45.3 | 10% below |
| 100 week MA | $56.3 | 28% below |
| 200 week MA | $80.7 | 50% below |
NVO has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 50% below its 200-week average.
UTMD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $73.2 | 0.6% above |
| 20 week MA | $71.7 | 2.6% above |
| 50 week MA | $66.9 | 10% above |
| 100 week MA | $62.5 | 18% above |
| 200 week MA | $71.0 | 3.7% above |
UTMD has the edge over NVO on trend strength, trading above more of its moving averages.
NVO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.1 | $34.7 | +19% |
| 2021 | $34.7 | $54.2 | +56% |
| 2022 | $54.2 | $67.0 | +24% |
| 2023 | $67.0 | $103.5 | +54% |
| 2024 | $103.5 | $87.4 | -16% |
| 2025 | $87.4 | $52.4 | -40% |
| 2026 YTD | $52.4 | $40.7 | -22% |
NVO has finished higher in four of the last six years, two of them by more than 50%. It's down 22% so far in 2026.
UTMD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $108.4 | $85.5 | -21% |
| 2021 | $85.5 | $97.9 | +15% |
| 2022 | $97.9 | $93.6 | -4.4% |
| 2023 | $93.6 | $84.2 | -10% |
| 2024 | $84.2 | $61.9 | -27% |
| 2025 | $61.9 | $56.8 | -8.3% |
| 2026 YTD | $56.8 | $73.6 | +30% |
UTMD has the edge over NVO on returns for 2026, with the stronger performance.